ISLAMABAD: A major financial scandal of unprecedented scale has surfaced in Islamabad, involving an alleged multi-billion-rupee petrol investment network, according to sources.
Sources claim that more than Rs 12 billion was invested in what is being described as a petrol-based investment scheme, which allegedly operated under the guise of earning profits through fluctuations in fuel prices. The scheme reportedly promised investors high returns by claiming that petrol was being stored and traded strategically during frequent price changes announced every fortnight.
According to sources, several government officials may also be involved in the network, with names of officers above Grade 18 from the Rawalpindi and Islamabad administrations reportedly emerging during investigations. It is further alleged that some officials invested through front men to conceal their identities, raising serious concerns over misuse of authority and public office.
The network is also believed to have included multiple petrol pumps located in Rawalpindi and Islamabad, including those situated in sensitive, posh and VIP areas. Sources suggest that at least 20 companies were used to facilitate transactions, transfer funds and conceal the flow of money within the system.
The central figure in the case has been identified as Adil Akram, against whom multiple cases have already been registered in different cities. Investigations are currently underway at various police stations including Margalla, Kohsar, Ramna and Haripur. Several complainants have come forward with significant financial claims, including Muhammad Salman, who filed a case worth Rs 61 crore, Mubashir Ahmed, who registered a cheque dishonour case of Rs 16.8 crore, and Umar Khan, who filed a complaint involving Rs 10.7 crore.
Sources say investors were initially paid regular profits, which later suddenly stopped, leaving billions of rupees stuck in the alleged scheme. It is also reported that a gym manager in Islamabad played a role in attracting investors by promoting the scheme among his clients and encouraging them to invest, while later reportedly filing an FIR against Adil Akram on the instructions of a powerful individual.
Investigators are also examining allegations of money laundering and suspicious asset transfers, including properties in Gulberg, F-7, and a private housing society. A money changer in Islamabad’s Blue Area has also come under scrutiny. Sources further claim that large sums of money were transferred abroad, including to Saudi Arabia and Spain, raising concerns of international money laundering.
Meanwhile, pressure is reportedly being exerted on victims not to name influential individuals allegedly involved in the scheme, and some have even received threats to remain silent. Authorities believe that a significant portion of the invested funds may belong to government officials who allegedly used front men to hide their involvement.
Adil Akram is currently in custody, while multiple agencies continue their investigation into the wider network, financial trails, and possible international links. The inquiry is ongoing and further developments are expected as the investigation expands.
